Poonawalla group acquired Magma Fincorp Ltd appoints Sanjay Miranka as its Group Chief Financial Officer (Group CFO) effective today.
"Sanjay joins us at this important phase when the company is going through a strategic shift," shares Abhay Bhutada, Managing Director, Magma Fincorp.
Abhay further added that he is confident in Sanjay's capabilities to lead Magma Fincorp in its next phase of growth.
"I am certain that his deep and extensive experience across a diverse set of industries including both asset and liability side of a lending business, his drive for operational excellence and setting up of best practices will benefit us immensely as we continue to position the brand for the future,” said Abhay.
Sanjay brings in over 26 years of rich experience across a diverse set of industries like Financial Services, Edible Commodities and Telecom. He was till recently associated with Aditya Birla Finance Ltd (ABFL) for close to 18 years in various capacities such as Head of Capital Market Lending Business and later as CFO. In his tenure as CFO, ABFL’s long term credit rating moved up from “AA+” to “AAA” and he has been instrumental in diversifying the funding sources and achieving one of the lowest cost of funds in the NBFC sector.
He has even been recognized as the Best CA CFO in "Large Corporate BFSI Category” by the Institute of Chartered Accountants of India (ICAI) in 2020.
Commenting on his appointment, Sanjay said “I would like to extend my gratitude to the Poonawalla group and the Board of Directors for giving me the opportunity to be part of this growth journey. I look forward to partner with the team to execute the company’s vision and enhance value for its shareholders, people and all stakeholders.”
Sanjay will lead the group’s resource raising, regulatory compliance & governance, investor interactions, corporate legal, and work with the MD and Group CEO on the strategic transformation.